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Magruder v. Washington, Baltimore & Annapolis Realty Co., 316 U.S. 69 (1942)
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General SummaryThis case is from a collection containing the full text of over 16,000 Supreme Court cases from 1793 to the present. The body of Supreme Court decisions are, effectively, the final interpretation of the Constitution. Only an amendment to the Constitution can permanently overturn an interpretation and this has happened only four times in American history.
Magruder v. Washington, Baltimore & Annapolis Realty Co., 316 U.S. 69 (1942)
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Magruder v. Washington, Baltimore & Annapolis Realty Co. No. 601 Argued March 9, 10, 1942 Decided April 13, 1942 316 U.S. 69
CERTIORARI TO THE CIRCUIT COURT OF APPEALS
FOR THE FOURTH CIRCUIT
Syllabus
1. A corporation which was organized for the purpose of liquidating the properties of another corporation, and which, since its organization, has been carrying on negotiations for the sale of the properties, selling them from time to time as satisfactory offers are received, and renting unsold properties under short term leases in an attempt to earn the carrying charges pending ultimate sale, was "carrying on or doing business" within the meaning of provisions of the Revenue Act of 1935, and subsequent Revenue Acts, imposing a tax on the capital stock of every domestic corporation "carrying on or doing business" during the tax year. P. 71.
2. The provision of the Treasury Regulations that "doing business" within the meaning of the capital stock tax provisions of the Revenue Act of 1935, and subsequent Revenue Acts, includes activities of a corporation engaged in "liquidation . . . of properties taken over from another corporation" is valid and applicable to the corporation here involved. P. 72.
120 F.2d 441, reversed.
Certiorari, 314 U.S. 601, to review the affirmance of a judgment for the taxpayer, 35 F.Supp. 340, in a suit for refund of capital stock taxes.
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Chicago: U.S. Supreme Court, "Syllabus," Magruder v. Washington, Baltimore & Annapolis Realty Co., 316 U.S. 69 (1942) in 316 U.S. 69 316 U.S. 70. Original Sources, accessed November 22, 2024, http://originalsources.com/Document.aspx?DocID=2K4A9Y6Z5ZXVQEM.
MLA: U.S. Supreme Court. "Syllabus." Magruder v. Washington, Baltimore & Annapolis Realty Co., 316 U.S. 69 (1942), in 316 U.S. 69, page 316 U.S. 70. Original Sources. 22 Nov. 2024. http://originalsources.com/Document.aspx?DocID=2K4A9Y6Z5ZXVQEM.
Harvard: U.S. Supreme Court, 'Syllabus' in Magruder v. Washington, Baltimore & Annapolis Realty Co., 316 U.S. 69 (1942). cited in 1942, 316 U.S. 69, pp.316 U.S. 70. Original Sources, retrieved 22 November 2024, from http://originalsources.com/Document.aspx?DocID=2K4A9Y6Z5ZXVQEM.
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